A report released on Thursday said Argo Blockchain ranked third among the top five stocks most actively traded by Fidelity’s customers in 2021
As of 2021, shares of the mining company are among the most actively traded stocks by Fidelity customers, beating out BP and Lloyds Banking Group. According to data compiled by Fidelity Investments’ United Kingdom unit, customers have been most interested in trading shares of crypto mining firm Argo Blockchain over the past 12 months.
A report released on Thursday said Argo Blockchain ranked third among the top five stocks most actively traded by Fidelity’s customers in 2021 – the other stocks were Rolls-Royce, British Airways owner International Consolidated Airlines, oil giant BP and Lloyds Banking Group. ARGOS was also ranked third among stocks traded by SIPP investors, which Fidelity called a “trending stock.”
Despite this, financial service company hinted that Argo might not make the top five next year. According to Fidelity, a number of newcomers knocked the mining company off the list of most actively traded stocks in December, including the COVID-19 test manufacturer Genedrive, fast-fashion retailer Boohoo Group, and engineering firm Smiths Group.
In 2018, Argo Blockchain was one of the first crypto mining companies listed on the London Stock Exchange. Since then, the company has expanded its operations steadily. Argo has made itself more accessible to U.S. investors through a Nasdaq listing since September. Moreover, it plans to build a mining facility in west Texas on a 320-acre plot of land, aiming to mine Bitcoin and other cryptocurrencies using up to 800MW of electricity.
Based on the data on Argo’s website, its facilities in North America generate more than 1.6 exahashes per second of Bitcoin using 45 MW of electricity. By the end of November, it was reported the company generated 1,831 Bitcoin and held 2,317 bitcoin equivalents – roughly $93 million and $118 million at the time of publication, respectively.
On the London Stock Exchange, Argo shares are currently trading at $130.10, down more than 65% from their high of $380.96 in February.